Latest from Patricia
Market reports, buying and selling advice, and notes on Colorado Springs neighborhoods since 2008.
January 21, 2015 · Buying
Great news for sellers in Colorado Springs that experienced a short sale in 2014. Fortunately, the mortgage debt forgiveness act was extended one more year. Homeowners that faced a hardship and were forced to short sell…
June 6, 2013 · Selling
Many sellers assume they are eligible for a short sale without speaking to their bank first. Home sellers with an FHA loan need to be aware of a factor that may not allow them to short sale their property. Home owners…
April 5, 2012 · Mortgage
There is no doubt about it, short sales can be difficult when you are the owner. The banks require an enormous amount of information and paperwork from the seller and a short sale transaction can take time to complete.…
June 25, 2010 · Selling
It is not uncommon for home owners that are facing a short sale situation to have more than one lien on their property. The second lien holder may approve the short sale of a property but may not necessarily forgive or…
December 24, 2009 · Selling
The Mortgage Forgiveness Debt Relief Act was passed in 2007 to protect distressed homeowners from being taxed by the IRS on the debt that was canceled by the lender on the short sale of their home.Prior to the bill being…
December 23, 2009 · Selling
Some home owners who are in distress may choose the option of a Deed in Lieu instead of a short sale. The home owner gives the deed for the house back to the bank and can walk away from the house without having to worry…
May 6, 2008 · Selling
So you have done your research and made the decision to list your home with a Realtor in Colorado Springs. As difficult as the situation may be selling your home under these circumstances, it is important you continue to…
May 1, 2008 · Selling
Sellers in Colorado Springs need to research the tax and economic consequences prior to making the decision of whether or not to short sale their home. Until recently, homeowners who sold their home through the short…
April 29, 2008 · Selling
You make the decision to call a Realtor in Colorado Springs about listing your home and to discuss the implications of a short sale. My advice to home sellers in this situation is to obtain legal and tax advice because a…
April 29, 2008 · Selling
You cannot afford to make your mortgage payment; maybe you have heard something about the option of a short sale and are not sure what it is. To put it simply, a short sale is the situation in which a homeowner cannot…
April 29, 2008 · Selling
Many different circumstances bring homeowners to a position where they cannot afford to pay their mortgage and often times, these unforeseen circumstances cannot be avoided such as a loss of a job. There are many…
